Apple could be set to announce a major contract with Kia, worth up to $3.6bn, already sent Kia share price soaring, is it the much anticipated Apple Car.
Apple has long spoken about interest in the electric car market, with plans picked up and dropped like a yoyo for the past few years.
However, this may finally be the proof that they are looking to seriously invest in the concept, there has previously bee great partnerships made by Apple, should this be any different.
According to articles out at the moment, we will know on the 17th of February if this is actually going to happen, but signs are looking good at the moment.
Apple has previously announced a vision to produce 100,000 vehicles per annum, and there were rumours in March 2020 that Hyundai was going to be the partner.
Whether the design will be Apple and the manufacturer Kia, is still open to interpretation to the news, however reducing the monopolisation of the EV market is always a good thing for consumers wallets.
Given the UK announcement regarding the bar on companies producing anything other than electric cars from 2030, it’s nice to hear there will be another player on the field.
Apple had some great plans for vehicles back in 2017, however during the pandemic we saw the workforce designated to this aspect of the company diminish.